Republican Candidate for Manhattan DA, Maud Maron, who is challenging Alvin Bragg:
“People in both parties want safer cities, better schools and sensible policies… Alvin Bragg.. released a ‘day one memo’ saying there were certain crimes he just wasn’t going to prosecute..”
OPERATION CHOKE POINT.
In 2013 I knew it was a political tool, and tried to speak up.
@elonmusk it has to stop, the banking system used as a tool of state corruption and cronyism is now a monster. Please DOGE this.
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I was in the Merchant Processing business since 1985, one of my specialties was to get a legal Merchant Account to any legal business. Banks would not only do a poor job of selling this services, they refused service to 75% of new businesses and 200% of “high risk” businesses. To sell a Merchant Accounts. But you need a bank who is chartered with Visa and Mastercard to offer a Merchant Account. Thus became the shot gun marriage for the industry, the banks hated us and we hated them, we both needed each other.
To underwrite a “high risk” merchant I had to take 100% liability if the bank had any form of loss, plus penalties. Thusly I developed early AI to monitor and underwrite these merchants. No one else in the world: did this until Square in 2011. I was doing Square and Stripe before the founders of those companies got out of diapers. Love those guys but I did it better and faster with customers that are still processing, decades later.
So a very cold morning in Southern California I got a call at 4 am from an east coast executive of one of the banks I represented: “Brian we have to shut down 780 merchants in your portfolio now. The Comptroller of The Currency and an FBI squad just walked walked in, we are losing over 2000 accounts”. Each merchant was doing legal business and some were 10 year working with us. It made no sense.
After the dust settled I got the inside word from a person that was part of the team, they were nice and all knew it was the start of a Soviet style payback operation.
I watched over 15,000 merchants, nearly 10% of my business, get the plug pulled in the space of a few weeks with every bank I had a relationship with.
I knew these merchants many personally and had to see their dreams burn down because of cronyism, games and people scared at the banks and over doing their jobs.
They destroyed so many people.
But how did this start?
Big political donations from Native American Gambling cartels and Las Vegas Gambling cartels, they both hated each other and got together to stop legal US betting for legal Online casinos.
They also wanted no sex workers to accept a credit card directly, it had to go through their pump first and then they got their cut.
It was the perfect cover “Gambling and Sex” who is coming to publicly defend it? Especially banks. But of course it was a cover for controlling the banking system to a level that was never possible.
It wasn’t just those industries it impacted just about any online business because of the way it was being pushed so hard on banks.
Over the years I got to see first hand the ugly hands corruption rapidly expand. This impacted all businesses and raised cost by 10x to do business.
It stopped “officially” in 2017. But it stated up again in 2021 and this time it was more ugly and more vengeful Operation Chokehold 2.0.
And as @pmarca points out in the @joeroganhq pairing linked in the reposting attached here, they went after people to control them politically.
This type of behavior must stop. Using the financial system through the government leavers of power for political ends has destroyed the faith and fabric of our society and economy.
There is a lot more to this story and someday I will write about it.
DOGE STOP THIS CRONYISM.
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